INFLATION

Local

Students, administrators at UND consider effects of inflation

Inflation is affecting many aspects of higher education, said David Flynn, professor of economics and finance at UND. It includes what students can afford to what schools can afford.

Minnesota

Twin Cities food shelves brace for ‘hungriest summer ever’

Providers say it’s the result of a sinister combination of factors leading working parents and seniors to venture to food shelves for the first time: the rising price of everything — including food — combined with the expiration of a host of COVID-inspired government subsidies, from stimulus checks to tax credits.

July 01, 2022 07:58 AM

Editorials

Our view: As inflation boosts prices, it is time to move forward on the proposed Crookston sports facility

In Crookston, the multi-sport facility is proposed to be built on school property, officially ending the district’s reliance upon the University of Minnesota Crookston football and track facilities. Once UMC dropped its football program, the football stadium started to deteriorate; the school district could fix it, but it doesn’t make sense to invest district dollars into property it doesn’t own. What does make sense is to build new on school property.

June 22, 2022 08:00 AM

Gas prices over the $8.00 mark are advertised at a Chevron Station in Los Angeles

National

Biden will ask Congress to pause gas tax amid record pump prices

The president will also call on states to temporarily suspend state fuel taxes, which are often higher than federal rates, and he will challenge major oil companies to bring back idled refining capacity.

June 22, 2022 06:44 AM

Latest Headlines

Gasoline prices are displayed at gas station in New Jersey

National

Are high prices unpatriotic or as American as you can get?

Particularly galling to the White House is the jump in industry stock buybacks, returning to investors profits that the administration wants invested in more refining capacity to bring gasoline prices down.

June 21, 2022 06:48 AM

By David Lawder and Heather Timmons / Reuters

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National

Biden nearing decision on suspending federal gas tax

Biden also said his staff would meet with oil industry executives this week after he told U.S. refiners in a letter last week that unprecedented profit margins are unacceptable and called for “immediate action” to improve capacity.

June 20, 2022 05:23 PM

By Josh Wingrove and Jenny Leonard / Bloomberg News

Minnesota

For gas station owners, record prices aren’t the windfall people think

The average price of gas in Minnesota and nationwide hit record highs last week, including at $4.98 per gallon nationwide on Monday, according to AAA. The national average rose to $5 a gallon last week for the first time.

June 20, 2022 11:16 AM

By Gita Sitaramiah / Star Tribune

A woman shops in a supermarket as rising inflation affects consumer prices in Los Angeles

National

How it came to this: The Fed and White House's slow inflation awakening

More than a year later, price increases at 40-year peaks have proven to be anything but, so much so that the Fed this week appears ready to hike interest rates by the most since 1994 to quell them.

June 15, 2022 06:32 AM

By Howard Schneider and Heather Timmons / Reuters

Plastic letters arranged to read "Inflation" are placed on U.S. Dollar banknote

National

Fed tries to thread the needle in forecasting a 'softish' landing

A hotter-than-expected inflation reading has even thrown some doubt on expectations.

June 13, 2022 06:56 AM

By Lindsay Dunsmuir / Reuters

Columns

Plain Talk: What's causing inflation, and what can we do about it?

Dr. David Flynn, an economist from the University of North Dakota, joins this episode of Plain Talk to discuss the deeply complicated issue of inflation.

June 10, 2022 01:00 PM

By Rob Port

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Columns

Port: Economic illiteracy is what may cost Democrats the midterms

The GOP is in shambles, but the alternative right now is a bunch of Democrats who probably should have spent more time awake in math class.

May 17, 2022 12:04 PM

By Rob Port

National

Summer travelers can expect long lines, higher prices as COVID restrictions ease

Airlines, hotels, rental car companies and booking sites all reported a surge in demand for their services in the latest batch of company earnings. But at the same time, many of those companies face a tight labor market and limited volume.

May 05, 2022 07:31 AM

By Doyinsola Oladipo / Reuters

Columns

Plain Talk: Nobel laureate says Biden canceling Keystone pipeline was 'symbol' that led to higher gas prices

Dr. Vernon Smith is speaking this week at North Dakota State University's Challey Institute as a part of the Menard Family's Distinguished Speakers Series. His work has focused on natural resources, experimental economics, and the roles trust, love, and empathy play in society.

May 02, 2022 11:20 AM

By Rob Port